franchise renewal

A franchise renewal is the process by which a franchisee extends their right to operate under the franchisor’s brand beyond the initial contract period. Typically, this involves reviewing the franchise’s performance, paying renewal fees, and agreeing to updated terms or conditions. Renewal allows the franchisee to continue leveraging the established brand, support, and business model, while the franchisor maintains consistency in brand standards. The process ensures both parties are committed to ongoing success and can include negotiations to adapt terms or improve the franchise relationship.